Japanese Companies Endorse Lagos Free Zone

By February 25, 2020 Investment News

Japanese companies have endorsed the Lagos Free Zone.

They made the endorsement after being hosted to a tour of Lagos Free Zone – The Gateway to a New Frontier.

The tour was organised by the Japan-Nigeria Business Facilitation Council in collaboration with the Lagos Secretariat – Japan External Trade Organisation.

Lagos Free Zone is in “The New Lagos”, a name earned by Ibjeu-Lekki region, one of the fastest growing LGA’s of Lagos State.

Trade Commissioner and Managing Director of JETRO in Lagos, Mr. Shigeyo Nishizawa, said, “Since the time I held a meeting with Japanese companies’ MDs in December, I found that the MDs were interested in the Lagos Free Zone, hence I decided to hold a site visit. Over 40 officials visited the site.

“The participants were not only food manufacturers, but also home appliances, vehicle manufacturers, medical equipment manufacturers, overseas traders and government agencies.

“We were pleased to have been received by Mr. Haresh Aswani, MD of Tolaram Group and Mr. Dinesh Rathi, CEO of LFZ. We checked the site and Lekki deep sea port construction progress and understood that the LFZ will be a real game changer of Nigerian economy.”

A statement on Friday said the free zone would aid the ease of doing business.

The statement added, “Lagos Free Zone also houses Lekki Deep Sea Port which is poised to contribute about three per cent to the national GDP by 2025.

“The deep seaport will be operational by the second quarter of 2022.

“Once fully developed Lagos Free Zone will house over 150 industries in different sectors from FMCG to Engineering and Pharmaceuticals, bringing in billions of dollars in foreign direct investment to Nigeria.

“The zone will also serve as a logistics hub for West Africa and have a real estate cluster, creating a complete live -work- play environment.

“Lagos Free Zone, is promoted by Singapore-based, Tolaram Group. With the presence of a one-stop-shop clearance, Lagos Free Zone is changing the narrative around the ease of doing business in Nigeria.

“The facilities on ground include an operational truck pack, emergency response medical facility, and a central processing center which hosts agencies like the Nigeria Export Processing Zones Authority, Nigeria Customs Service and Nigeria Immigration Service.

“In line with its commitment to the Ease of Doing Business, Lagos Free Zone provides and maintains internal infrastructure in the industrial complex including streetlights, warehouses, access roads, drainage, amongst others for all investors.”



Source: Punch